ENVOY Group has added to its portfolio of companies as it targets growth in the offshore carbon reduction and clean energy sectors.
Iain MacGregor, chief executive of the Inverness-based investment group, said the acquisition of Avantis Marine, would take it into new and “unusual” areas, including projects on cruise liners and large cargo vessels.
Avantis specialises in environmental performance and clean technologies for the shipping, oil and gas and passenger transport markets.
Headquartered in the Marshall Islands and operating from bases in the UK, Monaco, Dubai, Singapore and Miami, the company has a workforce of around 200.
The acquisition is understood to involve a low seven-figure price, although no exact value was given.
Set up last year, Envoy is a spin-off from the Global Energy Group. Its growing portfolio of companies includes Muir of Ord-based Ross-shire Engineering (RSE).
Mr MacGregor said: “The world is turning its attention to carbon reduction and environmental awareness.
“Much of the Envoy portfolio seeks to address these themes, not just in new clean energy markets, but also in supporting traditional markets to improve their impact. In the utilities sector for example, Envoy’s group company RSE is finding new ways to build water treatment infrastructure with near carbon free impact on the planet.
“The Avantis acquisition gives Envoy the technical capabilities to support this effort in traditional offshore and marine markets.”
Tom Davis, Avantis’ UK-based managing director, added: “While the management are predominantly based in the UK, demand for our solutions often come from foreign markets.
“Our teams are currently completing major turnkey upgrades to Hawaii-registered cargo ships afloat across the west coast of America and Canada.
“We also have projects throughout the Mediterranean on cruise ships, as well as work kicking off on FPSOs in Asia. Our experience on high pressure systems also takes the business into other onshore markets.”